Deals Buzz: Flipkart-Amazon deal to face intense CCI scrutiny
In other news, IL&FS is raising a new infrastructure fund, under its private equity business, with a target corpus of almost $1 billion
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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
IL&FS raising $1 billion infrastructure fund under its PE business
Infrastructure Leasing and Financial Services (IL&FS) Ltd is raising a new infrastructure fund, under its private equity business, with a target corpus of almost $1 billion, reports Mint citing a senior executive of the group.
The private equity business of IL&FS group is housed under IL&FS Investment Managers Ltd (IIML) and has invested in various sectors such as telecom, city gas distribution, shipyards, retail and media. Read more
Atria Power plans $500 million dollar bond sale
Atria Power Corp. Ltd, a Bengaluru-based renewable power producer, plans to sell dollar bonds worth $500 million and has hired investment bankers for the process, according to two people aware of the development as reported by Mint.
Atria, which is backed by GE Energy Financial Services, is seeking to expand capacity. Atria Power plans to develop 1,000MW of power projects with an investment of Rs3,000 crore over the next five years. Read more
Shell India unit sells 8.5% stake in Mahanagar Gas
BG Asia Pacific Holdings Pte Ltd, a wholly owned subsidiary of Shell India, on Wednesday said it has sold 8.5% stake in Mahanagar Gas Ltd, reported Mint.
This is part of Shell’s ongoing portfolio optimization to transform Shell into a simpler company, delivering stronger returns. Read more
Flipkart-Amazon deal to face intense CCI scrutiny
Any Flipkart-Amazon deal is likely to face close scrutiny for the competition watchdog, given the dominant market share the two entities have in the e-commerce space and the weight the combined entity would have if the merger goes through, according to The Economic Times report. Read more
After struggling to close the gap with Flipkart Ltd, Amazon India plans to cut prices and increase spending over the next few quarters to increase its market share in the company’s most important international market, Mint reported citing three people familiar with the matter. Read more
Mint first reported, Amazon may submit a rival offer to buy India’s largest e-commerce firm Flipkart, which is in advanced talks with Walmart Inc. for selling a majority stake, citing two people with direct knowledge of the matter. Read more
Walmart, the world’s largest retailer, is in talks to buy 55% of Flipkart through a mix of primary and secondary share purchases in a deal that could value Flipkart at $21 billion.
Nabard to raise Rs40,000 crore in FY19 via bonds
National Bank for Agriculture and Rural Development (Nabard) plans to raise about Rs40,000 crore from markets through bonds in the current FY19 (2018-2019), reports Business Standard.
The report said the financial institution has raised about Rs33,000 crore through bonds in 2017-18, up from Rs25,000 crore in 2016-17, citing Harsh Bhanwala, chairman, Nabard.
In FY19, market borrowing will be Rs7,000-8000 crore more than what it raised in 2017-18, the report added. Read more
Mirae has a $1-billion fund to bankroll Asian startups
South Korean financial services firm Mirae Global Asset Management is setting up an Asia-focused venture capital fund of close to $1 billion with India as one of the key focus geographies, according to people familiar with the matter as reported by The Economic Times. Read more
Last year in September, Mint reported Mirae Asset Global Investments Co. Ltd is planning to enter India’s real estate sector with a $500 million investment for buying commercial leased properties, citing a top company official. Read more
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